Christchurch Central

The capital of the Canterbury region – Christchurch sits on the east coast of New Zealand’s South Island. With a population of 375,000 it is the largest city in the South Island and the gateway city to the rest of the South Island.

Christchurch is the country’s second largest manufacturing centre and second largest employer behind construction. Manufacturing makes up $2.2 billion of Christchurch’s contribution to New Zealand’s GDP, supplying a broad range of local and international markets across electronics and electrical, food and beverages, heavy engineering and fabrication, machinery and equipment, and polymer and rubber.

Agriculture sits at the centre of Christchurch’s economy impacting commercial real estate agents in Christchurch. Agriculture is supported by the primary produce of surrounding regions such as vegetables, grains, dairy products, meat, wool, and timber.

A range of Christchurch’s industries benefit from a strong relationship with the tertiary education institutes in the city. Lincoln University is renowned for its Agriculture and Forestry programme, ranked in the top 50 of Quacquarelli Symonds (QS) World University Rankings. The University of Canterbury engineering school and computer science department similarly play a part in Christchurch’s reputation for IT innovation, supplying both staff and research which propel the technology industry.

Despite suffering a series of earthquakes between 2010 and 2012, the city has since experienced substantial development which promises to revitalise the city as a vibrant and dynamic urban centre.

Office leasing trends in Christchurch Central

Vacancy in the Christchurch office market has started to retract as the end of the development pipeline looms and tenants continue to filter in to vacant spaces. Core CBD vacancy has retrenched to 11.1%, the lowest level since December 2014, with many new buildings enjoying significant pre-leasing. Remaining pipeline supply will come in the form of the Westpac and KPMG building at the southern end of the Terrace, opening in Q1 2018 and the Spark building adjoining Cathedral Square due for completion in 2019. New additions to stock moving forward will be highly dependent on securing a large anchor tenant to ensure feasibility, however this demand has now largely been met.

Rental levels held flat over 2H17, suggesting that the decline in rents observed over 2015 and 2016 has now reached an equilibrium level at NZD 355 psm for prime CBD stock. Likewise, average secondary rents have stabilised at NZD 268 psm. While the suburban office market faces challenging conditions, the rate of rental decreases has also levelled off with both the average prime and secondary suburban office rent dropping by only NZD 5 psm over 2H17. This reflects a rate of NZD 260 for prime office and NZD 190 for secondary.

Privacy Policy

Who we are

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services.

Our commitment to privacy

We take our responsibility to protect the personal information provided to us seriously. This statement explains how we do that. It sets out what we do with the personal information we hold, how we protect it, and it explains your privacy rights (if applicable).

If we change this Privacy Statement:

JLL might update this Privacy Statement from time to time. When we have to do this the revised statement will be posted on this page, and where appropriate, by notification on our homepage. You should check this page from time to time to review any changes we have made.

The personal information we collect:

When we collect personal information, we are open about how we will use it.

We collect information:

through our website or the website of our affiliates - for example names, addresses or email details.

from meetings with staff or business contacts, such as exchanging business cards, or collecting information at conferences or business events.

that you provide to us in connection with the services we provide, for example in connection with tenancy or a lease agreement.

that we use to validate your identity, such as a passport or proof of residency document.

Our legal basis for processing your information

We rely upon a number of different legal bases for processing personal information and special category personal information – these include processing personal information where it is in our legitimate interests to do so, where this is necessary for the fulfilment of a contract or where the processing is necessary to carry out our obligations under employment law. Where we rely on our legitimate interests, this means that we use personal information to run our business and to provide the services we have been asked to provide. We only collect information that has been supplied voluntarily, you do not have to provide us with personal information. However, if you do not provide us with information we need by law or require to do work, we may not be able to offer certain products and services.

How we use your information

• We use your personal information in compliance with all the relevant laws and may use it in one or more of the following ways:

• We may use the personal information of tenants or other natural persons you have supplied us with to carry out work such as lease management on your behalf.

• We may use the contact information you supply to respond to your requests.

• We may use identification verification documents to meet with regulatory and legal requirements to verify who you are as a condition of providing JLL services and products.

• We may use personal financial information to assess your eligibility for JLL products and services.

• Where you give us consent, we use personal information to provide you with marketing and advertising about JLL's services, you can opt out of this at any time from our marketing department unsubscribe@jll.com

• Personal information may be used to inform you of services that may be of interest to you from JLL.

• Personal information is used to make your online experience as smooth as possible – for example by setting cookies and tailoring what you see on the website. Visit www.jll.com/cookies for more information.

• Personal information may be used to safeguard the security of our premises and those we maintain for third parties – for example through the use of CCTV.

Whom we share personal information with

We may share your personal information with:

• JLL employees who require it to perform their jobs.

• Organizations that support the products or services we provide to you.

We might transfer and store the information we collect from you outside the European Economic Area (EEA). It may be processed by staff or our suppliers outside the EEA. When we do this we aim to make sure the information is secure and properly protected.

Keeping your information safe

We commit to maintaining the deployment of appropriate security to protect personal information wherever it is located, and whether it is in electronic or manual form. To do this we may use a variety of mechanisms depending on where the information is stored and the relationship between JLL and any recipient organizations.

Your Rights

Where applicable you may have the following rights over your personal information:

Request a copy of the information we hold

You can access the personal information we hold about you. To do so please contact us by email at privacy@jll.com. There is no charge for us providing this information to you. You can also ask for information that you have provided to us in a machine-readable format, so you can transfer it to another organization if you want to.

Ask us to not use your information

If for any reason you do not want us to hold or use your information please contact us by email at EloquaSupport@ap.jll.com. We may need to keep some of your information for legal and business reasons, for example to comply with a regulatory requirement.

Have your information corrected

If you think the personal information we hold is wrong contact us at EloquaSupport@ap.jll.com and we will check and correct it if necessary. We are committed to holding personal information that is accurate and current.

How long we keep your information

We endeavor to keep your information for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. If you would like us to delete your information please contact us at EloquaSupport@ap.jll.com.

Terms of Use

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Jurisdiction
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